Simmons Upgrades Tenaris SA (TS) to “Overweight”
Tenaris SA (NYSE:TS) was upgraded by stock analysts at Simmons from a “neutral” rating to an “overweight” rating in a report released on Tuesday.
Several other research firms have also recently issued reports on TS. Berenberg Bank assumed coverage on Tenaris SA in a research note on Tuesday, October 11th. They issued a “hold” rating for the company. Piper Jaffray Cos. upgraded Tenaris SA from a “neutral” rating to an “overweight” rating in a report on Tuesday. Zacks Investment Research lowered Tenaris SA from a “hold” rating to a “sell” rating in a report on Wednesday, October 12th. Raymond James Financial Inc. restated a “hold” rating on shares of Tenaris SA in a report on Thursday, June 23rd. Finally, Goldman Sachs Group Inc. lowered Tenaris SA from a “buy” rating to a “neutral” rating in a report on Wednesday, July 20th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.33.
Tenaris SA (NYSE:TS) traded up 1.32% during mid-day trading on Tuesday, reaching $29.18. The company had a trading volume of 939,182 shares. The stock’s 50-day moving average is $27.51 and its 200 day moving average is $27.20. The firm’s market capitalization is $17.22 billion. Tenaris SA has a 12 month low of $18.53 and a 12 month high of $29.89.
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Tenaris SA (NYSE:TS) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.04. Tenaris SA had a negative return on equity of 3.33% and a negative net margin of 7.40%. The business earned $1.12 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted $0.06 EPS. The company’s revenue for the quarter was down 40.0% compared to the same quarter last year. On average, analysts predict that Tenaris SA will post ($0.41) earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in TS. Bank of Montreal Can acquired a new stake in shares of Tenaris SA during the second quarter valued at about $1,345,000. Granite Investment Advisors Inc. acquired a new stake in shares of Tenaris SA during the second quarter valued at about $6,194,000. Highland Capital Management LLC increased its stake in shares of Tenaris SA by 4.0% in the second quarter. Highland Capital Management LLC now owns 46,409 shares of the company’s stock valued at $1,338,000 after buying an additional 1,800 shares in the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Tenaris SA by 684.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 5,650 shares of the company’s stock valued at $163,000 after buying an additional 4,930 shares in the last quarter. Finally, Harding Loevner LP increased its stake in shares of Tenaris SA by 75.4% in the second quarter. Harding Loevner LP now owns 14,720,849 shares of the company’s stock valued at $424,565,000 after buying an additional 6,329,867 shares in the last quarter. 16.47% of the stock is owned by hedge funds and other institutional investors.
Tenaris SA Company Profile
Tenaris SA is a holding company, which is a supplier of steel pipe products and related services for energy industry and other industrial applications. The Company operates through Tubes business segment. The Tubes segment includes the production and sale of both seamless and welded steel tubular products, and related services primarily for the oil and gas industry, principally oil country tubular goods used in drilling operations, and for other industrial applications with production processes.
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